HERNDON, Va.--(BUSINESS WIRE)--Aug. 24, 2009-- Deltek, Inc. (Nasdaq:PROJ), the leading provider of enterprise applications software for project-focused businesses, announced today that it has successfully completed the amendment and extension of its current term loans and revolving credit facility.

Under the amended Credit Agreement, $129.4 million of the Company’s existing term loans were extended by two years to April 22, 2013. The remaining $50.2 million of the Company’s existing term loans will mature on April 22, 2011, with four equal quarterly installments beginning on September 30, 2010.

Under the amended Credit Agreement, the Company also extended by three years $22.5 million of the Company’s current revolving credit facility. It will now expire on April 22, 2013. The remaining $7.5 million of the Company’s current revolving credit facility will expire on April 22, 2010.

For both the revolving credit facility and term loans that were extended to April 22, 2013, the Company will pay an interest rate equal to LIBOR plus 4.25%, with a LIBOR floor of 2.00%. In addition, the Company will pay a fee equal to 0.75% of the undrawn portion on the revolving credit facility that was extended to April 22, 2013. There currently are no borrowings outstanding under the revolving credit facility.

“In keeping with our goal of maximizing our financial flexibility and improving upon our already strong balance sheet, we proactively extended these existing term loans and our revolving credit facility,” said Kevin Parker, president and CEO of Deltek. “These moves, coupled with our current cash balance in excess of $120 million, significantly enhance our ability to further invest in our business and capitalize on future market opportunities.”

About Deltek

Deltek (Nasdaq:PROJ) is the leading provider of enterprise applications software designed specifically for project-focused businesses. For more than two decades, our software applications have enabled organizations to automate mission-critical business processes around the engagement, execution and delivery of projects. More than 12,000 customers worldwide rely on Deltek to measure business results, optimize performance, streamline operations and win new business. Visit www.deltek.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. You can identify forward-looking statements by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “will,” “would” or similar words. You should consider these statements carefully because they discuss the Company’s plans, targets, strategies, prospects and expectations concerning the Company’s business, operating results, financial condition and other similar matters. The Company believes that it is important to communicate its future expectations to its investors. There will be events in the future, however, that the Company is not able to predict accurately or control. The Company’s actual results may differ materially from the expectations it describes in its forward-looking statements. Factors or events that could cause actual results to materially differ may emerge from time to time, and it is not possible to accurately predict all of them. Before you invest in the Company’s common stock, you should be aware that the occurrence of any such event or of any of the additional events described as risk factors in the Company’s filings with the Securities and Exchange Commission could have a material adverse effect on the Company’s business, results of operation and financial position. Any forward-looking statement made by the Company in this press release speaks only as of the date on which the Company makes it. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Source: Deltek, Inc.

Deltek, Inc.
Investor Relations:
Dave Spille, 703-885-9423
davespille@deltek.com
or
Media Relations:
Patrick Smith, 703-885-9062
patricksmith@deltek.com